灵宝黄金公布截至2025年6月30日的六个月中期业绩。收入人民币77.93亿元，同比增长82.02%。股东应 占溢利6.64亿元，同比增长335.28%。 报告期内，集团生产金锭约10821公斤，较去年同期增加约2870公斤。产量增加的主要原因包括：抓住 市场机遇、高效组织生产、释放产能效能、提高矿山产金量，以及增加合质金的生产数量。 ...

当前黄金行业处于转型升级关键期，发展新质生产力，推进高效益、高质量发展仍面临挑战，安徽黄金 产业该如何进一步释放潜能、实现跨越提升？ "点菜式"对接破发展难题 "当前金价高位运行，9月美国降息有望再创新高，为行业发展提供了有利窗口期。"省黄金管理局副局 长张明表示。 该车间通过常压浸出、加压浸出、卡尔多炉熔炼等一系列精密工序，对来自铜电解工序的"废料"进行深 度处理，实现了99.5%以上的金银回收率。 2024年，该车间共处理5000吨铜阳极泥，成功"炼"出13.5吨金锭、291吨银锭，还提炼出铂钯硒碲等十 多种稀有金属，年产值超百亿元，真正将"废料"变成了"金疙瘩"，切实实现了资源"吃干榨尽"的循环经 济理念。 具体来看，铜冶炼渣经选矿每年可回收含铜20%的精矿15万吨，其产量相当于一座中型矿山；污酸提铼 项目年产铼酸铵3吨，有效填补了战略资源空白；硫酸车间更是凭借HRS低温余热发电技术，实现每吨 酸生产"负能耗"3.61千克标准煤的佳绩，年减碳量达4万吨。 近年来，安徽省黄金行业持续发力产业升级，成效显著。2025年上半年，全省生产黄金13.822吨，15家 规模以上企业实现工业总产值211.1亿元、营业 ...

6.68% 10.07% 6.68% 3.39% 0.00% 10.07% 灵宝黄金 分时图 日K线 周K线 月K线 12.59 1.07 9.29% 10.36 10.75 11.13 11.52 11.91 12.29 12.68 灵宝黄金(03330)发布截至2025年6月30日止6个月中期业绩，集团收入人民币77.93亿元，同比增长 82.02%;股东应占溢利6.64亿元，同比增长335.28%;每股盈利52.33分;中期股息0.164元。 于2025年上半年度，集团生产金锭约10,821公斤(约347,884盎司)，比去年同期增加约2,870公斤(约92,286 盎司)，金锭生产增加的主要原因为集团上半年紧抓市场机遇，高效组织生产，释放产能效能，提高矿 山产金量，同时增加合质金生产数量，合并导致金锭产量增加。 3.39% 09:30 10:30 12:00/13:00 14:00 16:10 0 28万 56万 84万 ...

格隆汇8月26日丨灵宝黄金(03330.HK)发布公告，2025年上半年度，集团生产金锭约10,821公斤(约 347,884盎司)，比去年同期增加约2,870公斤(约92,286盎司)，金锭生产增加的主要原因为集团上半年紧 抓市场机遇，高效组织生产，释放产能效能，提高矿山产金量，同时增加合质金生产数量，合并导致金 锭产量增加。于本期间，由于整体金锭的生产增加，集团的收入同比去年增加约82.02%，为约人民币 77.93亿元。因金锭产量增加，且得益于黄金销售价格同比上涨，本期间集团的净盈利为约人民币6.70亿 元，上年同期净盈利人民币1.53亿元。本期间本公司每股基本盈利为人民币0.52元，董事会建议派发中 期股息每股人民币0.164元。 ...

智通财经APP讯，灵宝黄金(03330)发布截至2025年6月30日止6个月中期业绩，集团收入人民币77.93亿 元，同比增长82.02%;股东应占溢利6.64亿元，同比增长335.28%;每股盈利52.33分;中期股息0.164元。 于2025年上半年度，集团生产金锭约10,821公斤(约347,884盎司)，比去年同期增加约2,870公斤(约92,286 盎司)，金锭生产增加的主要原因为集团上半年紧抓市场机遇，高效组织生产，释放产能效能，提高矿 山产金量，同时增加合质金生产数量，合并导致金锭产量增加。 ...

证券代码：000737 证券简称：北方铜业 4.未来分红政策是否有调整可能？ 答:您好，公司制定了2023年-2025年股东回报规划， 并经公司2023年第三次临时股东大会审议通过，未来公司 将进一步健全和完善对利润分配事项的决策程序和机制， 建立持续、稳定、科学的回报机制，提升公司投资价值。 5.请问硫酸价格走势对公司业绩的具体影响及未来 市场判断？ 答:您好，预计短期内硫酸价格将维持稳中偏强运行， 但区域差异仍存。供应方面，全国整体开工率保持稳定， 市场供应量波动有限。需求端表现相对平稳，磷肥行业维 持刚性采购。成本面支撑依然稳固，原料硫磺价格保持坚 挺，为酸价提供底部支撑。硫酸价格整体偏强，这将会对 公司的业绩产生正贡献。 编号：2025-06 投资者关系活动类别 ☐ 特定对象调研 ☐ 分析师会议 ☐ 媒体采访 业绩说明会 ☐ 新闻发布会 ☐ 路演活动 ☐ 现场参观 ☐ 其他（请文字说明其他活动内容） 参与单位名称及人员 姓名 线上参与北方铜业（000737）2025年半年度报告业绩说明 会的全体投资者 时间 2025年08月22日 15:00-16:30 地点 价值在线（https://www.ir- ...

Investment Rating - The report initiates coverage with an "Outperform" rating for the company [3][5][34]. Core Views - The company achieved a revenue of approximately 1.24 billion RMB in the first half of 2025, representing a year-on-year increase of 33.7%. The net profit attributable to shareholders was about 601 million RMB, up 136.3% year-on-year [1][9]. - The company is set to launch a new project with a capacity of 10 million tons per year at the Gold Ridge Mine, which is expected to significantly boost gold production [2][25]. - The report forecasts revenues for 2025-2027 to be 3.404 billion, 4.832 billion, and 5.546 billion RMB, with year-on-year growth rates of 81.5%, 41.9%, and 14.8% respectively [3][34]. Summary by Sections Financial Performance - In the first half of 2025, the company reported a gross profit of approximately 868 million RMB, with a gross margin of about 70% and a net profit margin of 53.6% [9]. - The unit sales cost for copper equivalent from the Yifeng Xinzhang Mine was approximately 31,700 RMB per ton, nearly unchanged year-on-year, while the unit sales cost for gold from the Gold Ridge Mine was about 178.77 RMB per gram, down 16.11% year-on-year, indicating significant cost optimization [12][1]. Production Capacity and Projects - The Yifeng Xinzhang Mine currently has an annual processing capacity exceeding 1 million tons, with a copper equivalent annual production capacity of about 10,000 tons and a remaining mine life of over 20 years [2][20]. - The Gold Ridge Mine, which began production in November 2022, achieved gold metal sales of approximately 1,337 tons in the first half of 2025, a 29.7% increase year-on-year, driven by improved processing volume and recovery rates [2][10]. Valuation and Market Potential - The report sets a valuation target for the company at 28-30 times earnings for 2025, translating to a stock value between 41.03 and 43.96 HKD, indicating a potential upside of approximately 17%-25% from the current stock price of 35.00 HKD [3][34]. - The projected diluted EPS for 2025-2027 is 1.34, 1.91, and 2.19 RMB, with corresponding PE ratios of 24, 17, and 15 [3][34].

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Views - The company has shown significant growth in both revenue and net profit, with a 34% year-on-year increase in revenue to 1.24 billion RMB and a 136% increase in net profit to 600 million RMB in the first half of 2025 [1]. - The substantial profit growth is attributed to increased sales and prices of gold products [1]. - The company is expected to benefit from the commissioning of a new processing plant, which will enhance production capacity and contribute to revenue growth in the coming years [5]. Summary by Sections Production and Sales - In the first half of 2025, the company achieved a mining volume of 1.98 million tons, a 347% increase year-on-year, and a processing volume of 1.27 million tons, a 12% increase year-on-year [2]. - Gold ingot production reached 1,046 kg, up 40% year-on-year, while gold concentrate production was 26,300 tons, down 0.3% year-on-year [2]. Financial Performance - The company reported a revenue of 963 million RMB in the first half of 2025, a 72% increase year-on-year, and a net profit of 621 million RMB, a 141% increase year-on-year [3]. - The unit cost of production decreased to 240 RMB per gram, a reduction of 52 RMB per gram compared to the full year of 2024, while the profit per gram of gold increased to 436 RMB, up 227 RMB per gram year-on-year [3]. Future Outlook - The company plans to further enhance its mining capacity at the Xinzhang mine, aiming to increase it to 1 million tons per year [4]. - Revenue projections for 2025-2027 are estimated at 3.49 billion RMB, 4.77 billion RMB, and 5.36 billion RMB, respectively, with net profits expected to be 1.41 billion RMB, 1.87 billion RMB, and 2.18 billion RMB [5][6].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 16.48 CNY, based on a PE valuation of 16X for comparable companies [5][3]. Core Views - The precious metals sector is expected to see both volume and price increases, contributing to sustained performance growth for the company [11]. - The company reported a net profit of 585 million CNY for the first half of 2025, representing a year-on-year growth of 57.83%, aligning with market expectations [10]. - The company is actively enhancing its supply chain resilience and safety by advancing resource exploration projects, which are anticipated to improve production capacity significantly [10]. Financial Forecasts - The adjusted earnings per share (EPS) forecasts for 2025-2027 are 1.03 CNY, 1.21 CNY, and 1.33 CNY, respectively, reflecting slight upward revisions from previous estimates [3]. - Projected revenues for 2025 are 22,447 million CNY, with a year-on-year growth of 13.6% [4]. - The gross margin is expected to improve to 10.7% in 2025, with net profit margins projected at 4.9% [4]. Business Segment Performance - The precious metals segment is expected to contribute significantly to profits, with gold and silver bullion businesses accounting for nearly 40% of gross profit [10]. - The zinc smelting segment is also performing well, contributing approximately 12% to gross profit amid rising smelting fees [10]. Market Conditions - There is a growing expectation of interest rate cuts, which could lead to a new upward trend in precious metal prices, further enhancing the company's profitability [10].

Core Viewpoint - The company, 万国黄金集团, reported significant growth in its mid-year financial results for 2025, indicating strong performance driven by increased sales from its mining operations [3] Financial Performance - Revenue increased by approximately 33.7% year-on-year to about 1.24 billion [3] - Gross profit rose by approximately 79.4% year-on-year to about 868 million [3] - Profit attributable to shareholders surged by approximately 136.3% year-on-year to about 601 million [3] - Basic earnings per share were approximately 55.4 cents [3] - The interim dividend declared was 20.30 Hong Kong cents per share [3] Operational Highlights - The profit growth was primarily attributed to increased sales and profit contributions from gold ingots and gold concentrate sales from the Jinling Mine [3]